Transformational CFOs and CIOs are finding that shared enterprise platforms can eliminate data and operational silos while significantly streamlining cross-functional workflows. The result is greater transformation velocity, enhanced change management, and positive returns.
OneStream is designed to accomplish exactly that: combining functionalities traditionally offered by separate solutions like Corporate Performance Management (CPM), Enterprise Resource Planning (ERP), and Business Intelligence (BI) tools.
See how today’s leaders are leveraging OneStream as an accelerant to transformation.
Modernizing and Transforming the Office of the CFO
OneStream serves as the digital cloud platform for the Office of the CFO (OCFO), centralizing key financial and operational activities and paying down technical debt in the process.
It delivers a number of critical benefits for the time-strapped, resource-constrained OCFO, such as:
- Improved operational efficiency: Streamlined workflows within a single application mean more time spent on higher-value strategic activities and less time on importing, migrating, or integrating data flows across siloed systems. All data and metadata live together.
- Enhanced reporting accuracy: Consistent data and reduced reconciliation efforts lead to more reliable reports, so senior finance and functional leaders can make decisions and predictions more confidently instead of wading through complex files in search of insights.
- Increased agility and change readiness: OneStream empowers finance teams to adapt to changing business needs quickly since cross-functional information is more accessible and insightful. As internal and external events evolve, the entire enterprise can respond and move in unison.
- Simplified user experience and adoption: The platform is user-friendly and caters to different roles within the finance department. That means the interface, visualizations, and navigation are appropriately calibrated to financial analysts, controllers, and executives with role-based access control, drag-and-drop functionality, and helpful in-app tutorials and resources.
- Infinitely extensible: As functionalities and data needs grow, OneStream can adapt and accommodate them. This includes the ability to reuse core components, develop custom solutions, and integrate add-ons from a robust marketplace, effectively future-proofing the investment. It also allows for companies to address evolving risk and compliance needs, such as ESG and SEC rulings.
- AI-powered: OneStream’s Sensible AI portfolio leverages AI for machine-learning forecasting, generative AI for report generation, and automation for data validation, among other use cases. These features promote driver-based planning, enhanced scenario analysis, and prescriptive analytics, the very abilities modern CFOs need.
End-to-end OneStream value creation with an expert implementation and advisory partner
Simplify and transform corporate performance management processes like financial consolidation, reporting, planning, and analytics across the portfolio.
Accelerating Transformation Time-to-Value
There are four key areas in which OneStream enables finance and technology leaders to measurably move the needle on transformation, each of which is critical to day-to-day processes and long-term strategy:
- Financial reporting: Users can build dashboards and reports with drill-down capabilities to access underlying data, automate complex calculations, generate customizable templates, and support global accounting standards and currencies.
- Operational reporting: OneStream connects to operational data sources and brings in granular details alongside financial information for a robust analytic blend. This allows for deeper analysis of factors impacting financial performance and management decision-making.
- Planning and budgeting: User-friendly tools allow teams to build and manage budgets and forecasts that include integrated data and calculations, collaborative workflow management, what-if analysis, and more.
- Financial close and consolidation: OneStream streamlines account reconciliation and consolidation processes by reducing human effort and errors, automating journal entries and data validation, and managing close milestones.
Leaders aiming to launch their enterprise transformation journey should consider that OneStream can often take months to implement. However, certain functionalities can be expedited and phased-in first while other modules are expanded and deployed later.
CrossCountry Consulting offers rapid deployment accelerators that deliver OneStream value exponentially faster than traditional timelines. For example, our OneStream implementation experts deploy a ready-to-use OneStream environment that shortens application design and implementation time by up to three months, which can reduce costs by as much as 50%.
To explore OneStream solutions for maximum impact and ROI, contact CrossCountry Consulting.